Timothy Kirkhope, Leader of the Conservatives in the European Parliament, issued the following statement yesterday, as the Parliament celebrated the tenth anniversary of the euro:

"It is not in Britain’s interest for the Euro to fail, but it would also not be in our interests to sign up to it either. Britain can be a leading member of the EU without signing up to the Euro.

The Pound’s recent fall in value in no way strengthens the case for Britain to give up our currency. The weak Pound is a side effect of Labour’s recession and a weak economy.

We do need a change in the management of our economy, but only a Conservative government can deliver it. Just because our own government has lost control of the British economy, that does not justify handing over control to the EU."